Net Asset Value Restatement for Franklin Liberty Systematic Style Premia ETF (FLSP)
February 27 2020 - 04:49PM
Business Wire
Franklin Templeton announces that the previously disclosed net
asset value (NAV) per share of FLSP on February 26, 2020 contained
an error of greater than 1%. FLSP's NAV was restated effective as
of February 27, 2020.
ETF Name
Ticker (NYSE Arca)
Revised
Original
Adjustment
Franklin Liberty Systematic Style Premia
ETF
FLSP
$24.8839
$25.2836
1.58%
The NAV adjustment is a result of an error in calculating the
NAV for FLSP.
Franklin LibertyShares, the firm’s global ETF platform, enables
investors to pursue their desired outcomes through a range of
active, smart beta and passive ETFs. LibertyShares has more than $6
billion in assets under management globally as of January 31, 2020
and is supported by the strength and resources of one of the
world’s largest asset managers. For more information, please visit
franklintempleton.com/etfs. Visit Franklin LibertyShares’ Capital
Markets Corner for insights on ETF investing and follow Franklin
LibertyShares on Twitter: @libertyshares.
Important Information about the Fund
All investments involve risks, including possible loss of
principal. Stock prices fluctuate, sometimes rapidly and
dramatically, due to factors affecting individual companies,
particular industries or sectors, or general market conditions. The
fund is actively managed and could experience losses if the
manager's judgment about particular investments, or its evaluation
of the risks, potential returns and correlation properties of the
various risk premia in which the fund invests, prove to be
incorrect. The manager’s allocation of fund assets among different
strategies, asset classes and investments may not prove beneficial
or produce the desired results. Trading models used by the manager
for securities selection and asset allocation may become outdated
and the historical patterns upon which the models are based may
weaken or disappear. There can be no assurance that the
factor-based risk premia investment strategies utilized by the
manager will enhance fund performance, reduce volatility or reduce
potential loss. Investments in derivatives involve costs and create
economic leverage, which may result in significant volatility and
cause the fund to participate in losses (as well as gains) that
significantly exceed the fund's initial investment. Certain
derivatives have the potential for unlimited loss. Investing in
derivatives and the use of foreign currency techniques involve
special risks and may not achieve the anticipated benefits and/or
may result in losses to the fund. Other risks include illiquidity,
mispricing or improper valuation of the derivative, and imperfect
correlation between the value of the derivative and the underlying
instrument. The fund may realize losses when a counterparty fails
to perform as promised. Currency management strategies could result
in losses to the fund if currencies do not perform as the manager
expects. Bond prices generally move in the opposite direction of
interest rates. As the prices of bonds in the fund adjust to a rise
in interest rates, the fund's share price may decline. Changes in
an issuer’s financial strength or in a security’s credit rating may
affect its value. Liquidity risk exists when securities or other
investments become more difficult to sell, or are unable to be
sold, at the price at which they've been valued.
Special risks are associated with foreign investing, including
currency fluctuations, economic instability and political
developments; investments in emerging markets involve heightened
risks related to the same factors. To the extent the fund focuses
on particular countries, regions, industries, sectors or types of
investment from time to time, it may be subject to greater risks or
adverse developments in such areas of focus than a fund that
invests in a wider variety of countries, regions, industries or
sectors or investments. These and other risks are discussed in the
fund’s prospectus.
ETFs trade like stocks, fluctuate in market value and may
trade at prices above or below the ETF’s net asset value. Brokerage
commissions and ETF expenses will reduce returns.
ETF shares may be bought or sold throughout the day at their
market price, not their Net Asset Value (NAV), on the exchange on
which they are listed. Shares of ETFs are tradable on secondary
markets and may trade either at a premium or a discount to their
NAV on the secondary market.
Investors should carefully consider a fund’s investment
goals, risks, charges and expenses before investing. To obtain a
summary prospectus and/or prospectus, which contains this and other
information, talk to your financial advisor, call us at (800) DIAL
BEN/342-5236 or visit franklintempleton.com. Please
carefully read a prospectus before you invest or send
money.
About Franklin Templeton
The funds’ principal underwriter is Franklin Templeton
Distributors, Inc., a wholly-owned subsidiary of Franklin
Resources, Inc. [NYSE:BEN] is a global investment management
organization operating as Franklin Templeton. Franklin Templeton’s
goal is to deliver better outcomes by providing global and domestic
investment management to retail, institutional and sovereign wealth
clients in over 170 countries. Through specialized teams, the
company has expertise across all asset classes—including equity,
fixed income, alternative and custom solutions. The company’s more
than 600 investment professionals are supported by its integrated,
worldwide team of risk management professionals and global trading
desk network. With offices in more than 30 countries, the
California-based company has more than 70 years of investment
experience and approximately $688 billion in assets under
management as of January 31, 2020. For more information, please
visit franklintempleton.com.
Copyright © 2020. Franklin Templeton. All rights reserved.
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version on businesswire.com: https://www.businesswire.com/news/home/20200227006014/en/
Franklin Templeton Corporate Communications: Pholida Barclay,
(212) 632-3204, pholida.barclay@franklintempleton.com Prosek
Partners: Mara Bernstein, (646) 818-9278, mbernstein@prosek.com
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